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Thursday, August 2, 2018

We’re Ready to Quit, Resell Firms at Discounts – Power Distributors

You asked me whether we are willing to quit the business. Now, please listen to me and put it down clearly that we bought our distribution company cash down for $82m in 2013; we are willing to take $72m in 24 hours and leave. 

"If you have $72m or Fashola can give us $72m,
we are giving him $10m discount; if we get that sum, in 24 hours we are out of this business. Please, is there anybody with $72m here? If there is none, please advertise it for me because I’ve given you the price.

"We want the minister to call us and ask us why we are not investing, and to find out why the banks are not willing to fund the distribution companies at all. This is because we are not keeping all the parameters that are supposed to make us a business. We are not there. So, I want you to use your media to tell the minister that we as investors are complaining. 

 "Tell him that we want to meet him for him to understand why we are not meeting up with the investment that he thinks we ought to do despite the fact that we are doing it to some extent. But we are investing and not making money. However, for us to invest, we need to make money."  

Read the full story here: https://lnkd.in/eRUMrHi 

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